Welcome to Capital Account. The Fed gave the QE-addicted markets another dose of its stimulus drug today as it announced another securities purchase program. The Fed launched an open-ended program to buy $40 billion in mortgage backed securities each month, a program that will continue until the labor market improves. The Fed also committed to record low interest rates even after the economy strengthens. To what end will the Fed pursue this accommodative stance? In response to this action gold climbed to a six month high. Marc Faber, Gloom Boom and Doom publisher, has said that he will not sell any of his gold as long as people like Ben Bernanke are running the world’s central banks.
We ask Dr.Faber about his near term outlook for gold, and what he thinks of Ben Bernanke’s monetary policy.
Marc Faber: Hedge the Bernanke Put and QE3 with Gold, Land and Equities!
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Instead of not being able to pay out pensions funds when they aren’t confiscated they will be paid out pennies on the dollar after hyperinflation.
Mr. Faber, land is not a very liquid hard asset, and equities won’t do well if companies go through hyperinflation (leading to economic depression). Also, how come you never talk about silver in the same lime-light as gold? Mr. Jim Rogers always tells his audience that he thinks silver is a better buy than gold right now.
♥ ♥ ♥ Lauren Lyster ♥ ♥ ♥
Yet, they didn’t announced how much silver gained in percentage compare to its previous low price which was more than gold. So, I think that silver should also be mentioned in the media and I think that it sure will when silver becomes 50$ per ounce or when its ratio is lower than gold.